- Ahead of the inflation data tomorrow, the US dollar is trading sideways and hovering near three-month highs.
- The greenback is currently approaching a key resistance level and could break higher if CPI data surprises.
- In this piece, we will take a look at key levels to watch for those looking to trade the US dollar as data is released.
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Markets are eagerly awaiting the first rate cut from the Fed, and all eyes will be on data tomorrow.
Ahead of the release, the has started the week trading sideways. Last week, the rose to 104.6, a level not seen since November, before pulling back to the 104 mark.
Despite this retreat, the greenback managed to sustain its position near the three-month highs, remaining within range of the critical resistance…
